The People's Bank of China (PBoC) announced on Monday it will keep its one-year loan prime rate (LPR) unchanged at 3.45%. Additionally, the bank's five-year loan prime rate remained at 3.95%,
The ECB has become "the central bank to be followed," one central bank governor said.
The European Central Bank signalled Thursday it could cut interest rates at its next meeting in June, a big step as the rich world's central banks, including the U.S. Federal Reserve, wrestle with how soon declining inflation will let them lower credit costs for business and consumers. The bank left
Consumers face the prospect of permanently higher interest rates amid geopolitical tensions and “slower globalisation”, a Bank of England official has warned.]]>
Inflation’s up again in the U.S. while the EU is edging closer to its target. That brings the ECB to a bit of a fork in the road.
World Bank Report Highlights Advantage Of Central Bank Gold Revaluation Accounts By Jan Nieuwenhuijs of Gainesville Coins Recently the World Bank released a handbook for asset managers on why to invest in gold. At Gainesville Coins I have written numerous articles on gold revaluation accounts and how these can be deployed by central banks to absorb losses in case of emergency. The World Bank has taken notice of my research as they allude to this practice in a chapter on reserve...
Stock markets in the Asia-Pacific region traded mostly higher at the start of the week, while Chinese stocks dipped in the negative territory as investors digested the People's Bank of China's (PBoC)
The path for the Bank of England to cut interest rate cuts looks increasingly uncertain, particularly as the US Federal Reserve looks set to wait a while longer before loosening policy.
The number of mortgage applications, including refinancings and additions, increased by 16 percent in the first quarter of 2024 compared to the same quarter last year. Applications for the purchase of a home increased by 19 percent, De Hypotheker reported on Wednesday. Half of these applications were from young home buyers under the age of 35.
BofA is among the large lenders, including rival JPMorgan, that are weighing the potential for the U.S. Federal Reserve to cut interest rates this year. The move could crimp banks' income from interest payments, but could potentially spur economy activity and borrower demand. BofA's net interest income (NII) -- the difference between what it earns on loans and pays for deposits -- slid 3% to $14 billion in the quarter due to higher deposit costs and modest loan growth.
The results from JPMorgan, Wells Fargo, and Citigroup mark the start of earnings season for America's banks as investors watch for signs of how high interest rates are affecting lenders.
M&T Bank posted a 25% drop in first-quarter profit on Monday as higher deposit costs reduced its interest income, and a turmoil in the commercial real estate (CRE) industry prompted it to set aside more rainy-day funds. Regional lenders have had to pay higher interest rates on deposits to prevent customers from fleeing to higher-yielding alternatives, such as money market funds. Buffalo, New York-based M&T Bank's net interest income - the difference between what a bank earns on loans and pays...